TIAA CREF Investment Management LLC reduced its holdings in Republic Services, Inc. (NYSE:RSG) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 881,451 shares of the business services provider’s stock after selling 18,971 shares during the quarter. TIAA CREF Investment Management LLC owned 0.26% of Republic Services worth $56,175,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in RSG. Almanack Investment Partners LLC. bought a new stake in shares of Republic Services in the second quarter worth about $141,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Republic Services by 59.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,903 shares of the business services provider’s stock worth $185,000 after acquiring an additional 1,078 shares in the last quarter. Tiedemann Wealth Management LLC bought a new stake in shares of Republic Services in the first quarter worth about $205,000. Burney Co. bought a new stake in shares of Republic Services in the first quarter worth about $207,000. Finally, Parallel Advisors LLC increased its holdings in shares of Republic Services by 59.2% in the first quarter. Parallel Advisors LLC now owns 3,336 shares of the business services provider’s stock worth $210,000 after acquiring an additional 1,240 shares in the last quarter. Institutional investors own 60.57% of the company’s stock.
In related news, EVP Jeffrey A. Hughes sold 6,329 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $66.50, for a total value of $420,878.50. Following the completion of the sale, the executive vice president now directly owns 428 shares of the company’s stock, valued at approximately $28,462. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.40% of the company’s stock.
Republic Services, Inc. (RSG) opened at 66.94 on Tuesday. Republic Services, Inc. has a 52-week low of $49.18 and a 52-week high of $66.95. The stock’s 50 day moving average price is $64.92 and its 200 day moving average price is $63.78. The firm has a market capitalization of $22.54 billion, a PE ratio of 34.36 and a beta of 0.60.
Republic Services (NYSE:RSG) last issued its earnings results on Thursday, July 27th. The business services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Republic Services had a return on equity of 10.42% and a net margin of 6.86%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that Republic Services, Inc. will post $2.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Republic Services’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, September 29th. Republic Services’s payout ratio is presently 65.64%.
TRADEMARK VIOLATION NOTICE: This piece of content was published by Week Herald and is the property of of Week Herald. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://weekherald.com/2017/09/19/republic-services-inc-rsg-holdings-lessened-by-tiaa-cref-investment-management-llc.html.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Republic Services from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BMO Capital Markets assumed coverage on Republic Services in a report on Thursday, June 29th. They issued an “outperform” rating and a $71.00 price target for the company. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Republic Services in a report on Friday, August 25th. Royal Bank Of Canada restated an “outperform” rating on shares of Republic Services in a report on Thursday, September 7th. Finally, Credit Suisse Group set a $69.00 price target on Republic Services and gave the stock a “hold” rating in a report on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Republic Services presently has a consensus rating of “Hold” and a consensus price target of $71.88.
Republic Services Company Profile
Republic Services, Inc is a provider of non-hazardous solid waste collection, transfer, disposal, recycling and energy services. The Company’s segments include Group 1, Group 2 and Corporate entities. Its Group 1 and Group 2 segments provide integrated waste management services. Group 1 consists of geographic areas located in the western and portions of the mid-western United States.
Want to see what other hedge funds are holding RSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Services, Inc. (NYSE:RSG).
Receive News & Ratings for Republic Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.